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16 Mar 2015
EUR/JPY consolidating after last week slide
FXStreet (Córdoba) - The euro is trading steady on a calm Monday in the currency market. The EUR/JPY pair currently trades at 127.70/75, up 0.25% for the day, but still continues to move with a downside bias.
During the Asian session the pair bottomed at 127.04 and recently printed a fresh daily high at 127.97. So far, it has been able to hold above 127.00 during all day, but the upside found resistance around 128.00.
The euro is consolidating and recovering modestly after falling last week more than 300 pips, for the second week in a row. Later today, the European Central Bank will release details of the expanded purchase program and before that, US economic data will be publish that could trigger some price action movements, but activity could remain limited on Monday.
During the Asian session the pair bottomed at 127.04 and recently printed a fresh daily high at 127.97. So far, it has been able to hold above 127.00 during all day, but the upside found resistance around 128.00.
The euro is consolidating and recovering modestly after falling last week more than 300 pips, for the second week in a row. Later today, the European Central Bank will release details of the expanded purchase program and before that, US economic data will be publish that could trigger some price action movements, but activity could remain limited on Monday.